Oxurion enters into exclusive negotiations to acquire the business and assets of Eclevar, a MedTech-focused CRO
Leuven, BELGIUM – September 30, 2026 – 08:00 AM CET - Oxurion NV (Euronext Brussels: OXUR), a company headquartered in Leuven, today announced that it has entered into exclusive negotiations to acquire the business and operating assets of Eclevar, a French CRO focused on the medical device industry.
A strategic entry into the MedTech CRO market
Eclevar is closely aligned with Oxurion's ambition to build a broader, diversified platform spanning clinical and regulatory services across the life sciences industry. The MedTech market is entering a new phase: clinical development requirements are becoming more demanding, regulatory expectations are converging towards pharmaceutical standards, and reimbursement evidence is increasingly decisive. In Europe, the Medical Device Regulation has created a sizeable opportunity for integrated MedTech CROs able to generate robust clinical data and registries, support both established and new product indications, accelerate the development of novel devices, strengthen reimbursement dossiers and bridge European requirements with those of regulators in the United States, China and Japan.
A differentiated European MedTech CRO platform
Over the past 4.5 years, Eclevar has established an international footprint and client base across Europe, Japan and China, supported by an international team and a network of tier-one partners.
Eclevar Healthtech generated €2.9 million in revenue over the 14-month financial year ended 31 December 2025, corresponding to approximately €2.5 million on a 12-month normalized basis. Based on its current business plan, Eclevar is targeting approximately €3 million in revenue for FY2027 highlighting the platform's medium-term growth potential in an attractive and increasingly regulated market. As a European MedTech specialist, Eclevar provides an integrated offering spanning pre-market clinical investigations and post-market clinical follow-up studies, regulatory advisory, global study designs leveraging regional expertise and key opinion leaders, and end-to-end European market access.
Transaction structure
The contemplated transaction is expected to be structured to provide Oxurion with control of the business while preserving strong alignment with Eclevar's founder, investors and team through a performance-driven framework:
- The contemplated transaction would be implemented through a newly incorporated MedTech CRO platform, 68% owned and controlled by Oxurion.
- The new entity would acquire Eclevar's operating business and assets for a nominal consideration of €1 and would integrate its operating team.
- The remaining 32% would be held by Eclevar's founder, existing investors, employees and board members, ensuring continued alignment with the future development of the platform.
- At closing, Oxurion would commit up to €250,000 of working capital to support the development and integration of the platform.
- Minority shareholders will be granted a put option over all of their shares, exercisable between 31 December 2030 and 31 December 2033, providing a defined liquidity event based on the following EBITDA valuation framework:
• 3.0x EBITDA for EBITDA between €500k and €1.0m;
• 5.0x EBITDA for EBITDA between €1.0m and €2.0m;
• 6.5x EBITDA for EBITDA above €2.0m.
The put option may be exercised only once and may be settled in cash, Oxurion shares or a combination thereof, at Oxurion's discretion, with any Oxurion shares received as consideration benefiting from anti-dilution protection.
Pascal Ghoson, Chief Executive Officer of Oxurion, commented: “Eclevar would give Oxurion immediate scale and specialized capabilities in the MedTech CRO market, while creating tangible commercial and operational synergies across the Group. In particular, we see a clear opportunity to combine Eclevar's clinical and regulatory expertise with Axiodis' biostatistics capabilities and Oxurion's broader clinical and technology platform. The transaction would also bring into the Group an experienced international team with a strong entrepreneurial culture.”
Chems-Eddine Hachani, Founder of Eclevar, added: “We are pleased to enter into exclusive negotiations with Oxurion and believe that its build-up strategy provides a strong platform for Eclevar's next phase of development. Together, we intend to accelerate organic growth, expand our capabilities and selectively pursue additional external growth opportunities.”
The parties aim to complete the transaction by 31 December 2026. Completion remains subject to the execution of definitive agreements and the satisfaction of customary closing conditions.
About Oxurion
Oxurion NV (Euronext Brussels: OXUR) is building a technology-enabled clinical research and software platform. The Company combines clinical operations expertise, software innovation and proprietary operational data to support pharmaceutical, biotechnology and medical device sponsors. More information is available at www.oxurion.com.
Important information about forward-looking statements
Certain statements in this press release may be considered “forward-looking”. Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company's Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Oxurion in any jurisdiction. No securities of Oxurion may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.
For further information please contact:
| Oxurion NV Pascal Ghoson, Chief Executive Officer P ascal.ghoson@oxurion.com |